Press release
of Pyrum Innovations AG

Pyrum Innovations AG publishes figures for the first half of 2024

o	Sales of EUR 708 thousand significantly above previous year's level (H1 2023:
EUR 501 thousand) 
o	Consolidated net profit for the period of EUR -4,787 thousand (H1 2023: EUR
-4,408 thousand)
o	Change in the Executive Board

Dillingen / Saar, 27 September 2024 - Pyrum Innovations AG ("Pyrum", the
"company", ISIN: DE000A2G8ZX8) published its consolidated financial report for
the period from 1 January to 30 June 2024 today. The company's half-year results
and financial position continued to be largely characterised by investments at
the company's headquarters in Dillingen/Saar and for orders of plant components
with long delivery times for the new site in Perl-Besch, as well as investments
in personnel expansion and the further development of the organisational
structure. In addition, the throughput volumes in the rCB pellet plant were
still below target.

Pascal Klein, CEO of Pyrum Innovations AG: "We look back on an exciting and
successful first half of the year at Pyrum. Our industrial-scale plant is
finally in operation and the start-up phase of the new TAD 2 and TAD 3
production lines has been successful. This lays the foundation for our future
development. We are currently doing everything we can to ensure that TAD 2 and 3
can soon go into continuous operation, which will also be reflected in the
figures in the future. In addition, the focus is on financing further
expansion."

Sales in the first six months were EUR 708 thousand, up 41.3% on the same period
of the previous year (EUR 501 thousand). With the expansion and optimisation of
the plant in Dillingen progressing according to plan, own work capitalised
amounted to EUR 3,614 thousand (H1 2023: EUR 7,613 thousand). The decline
corresponds to the lower cost of materials required to produce own work
capitalised as the level of completion of the plant expansion in Dillingen
increases. As expected, total output fell by around 44% year-on-year to EUR
4,536 thousand (H1 2023: EUR 8,155 thousand) due to a lower volume of own work
that can be capitalised. Other operating income more than doubled year-on-year
to EUR 800 thousand (H1 2023: EUR 356 thousand). This was due to investment
grants of EUR 531 thousand (EUR 151 thousand) for the creation of jobs in
Dillingen resulting from the plant expansion. The consolidated net result for
the period amounted to EUR -4,787 thousand (H1 2023: EUR -4,408 thousand).
Available liquidity increased to EUR 9,502 thousand as of 30 June 2024 (31
December 2023: EUR 4,483 thousand) due to the payment of two further loan
tranches from BASF for the construction of the plant in Perl-Besch.

As a result of lower costs, the company expects earnings before interest and
taxes (EBIT) of between EUR -10.0 million and EUR -12.0 million for 2024, which
is slightly above the previously expected range of EUR -11.0 million to EUR
-13.0 million.

As a result of the pelletising plant's throughput being lower than planned, the
company predicts that sales will not meet the original forecast until the fourth
quarter. Consequently, sales for the year as a whole are now expected to be
between EUR 1.9 million and EUR 2.4 million (originally EUR 3.0 million to EUR
4.0 million). In addition, total output is also expected to be lower than
planned at aprox. EUR 10 million (originally between EUR 25 million and EUR 30
million). Contrary to planning, no plant purchase contract has yet been signed,
as despite progress on the projects, no approval procedure necessary for a final
investment decision has yet been completed. In this respect, the company is
dependent on the processing times of the approval authorities.

In addition, there will also be a change in the composition of Pyrum's Executive
Board. When his contract expires on 15 October 2024, Michael Kapf will no longer
serve as a member of the company's Executive Board for personal reasons.
However, after his departure, he will remain with Pyrum Innovations AG as an
employee and will continue to be primarily responsible for the company's IT.

Alf Schmidt, Chairman of the Supervisory Board of Pyrum Innovations AG, thanks
Michael Kapf on behalf of the entire Supervisory Board: 'We are extremely
grateful to Michael Kapf for his dedicated and successful work over the past
years since the company was founded. He has played a decisive role in making
Pyrum a leading company in the field of tyre thermolysis. We are very pleased
that he will remain with the company as an employee even after his departure
from the Executive Board and will continue to contribute his expertise."

After Michael Kapf's departure, the Executive Board of Pyrum Innovations AG will
consist of CEO Pascal Klein and CFO Kai Winkelmann. Pyrum considers itself very
well positioned to continue its growth course, given the current size of the
company.

Pyrum Innovations AG will hold an English-language webcast for investors,
private shareholders and press representatives on Friday, 27 September 2024 at
10:00 a.m. CEST on the current business development. Interested parties can
register to participate at https://bit.ly/3zv6rpK. 

The Group Interim Report for the first half of 2024 of Pyrum Innovations AG is
available on the company's website at
https://www.pyrum.net/en/investors/financial-publications/. 


About Pyrum Innovations AG
Pyrum Innovations AG is active in the attractive recycling market for
end-of-life tyres and various plastics with its patented thermolysis technology.
Pyrum's thermolysis process is largely energy self-sufficient and, according to
the Fraunhofer Institute, saves significantly more CO2 emissions than today's
standard recycling processes for end-of-life tyres - especially compared to
incineration in cement plants - and produces new raw materials such as
thermolysis oil, gas and recovered carbon black from the waste used as input
materials. In this way, Pyrum closes the recyclable material loop and pursues a
completely sustainable business model. As a pioneer, Pyrum Innovations AG was
the first company in the end-of-life tyre recycling sector to receive REACH
registration from the European Chemicals Agency (ECHA) for the thermolysis oil
it produces. This means that the oil is recognised as an official raw material
that can be used in production processes. In addition, Pyrum has received ISCC
PLUS certification for the thermolysis oil and the recovered carbon black. Both
products are thus considered sustainable and renewable raw materials. In
addition, Pyrum has received ISO 14001 certification for its environmental
management system and ISO 9001 certification for its quality management system.
These achievements have also been recognised by international experts in the
tyre industry. For example, Pyrum won the Best Tyre Recycling Innovation
category at the inaugural Recircle Awards and has been a finalist in the Grand
Prix of German SMEs (Großer Preis des Mittelstandes) three times in a row.
https://www.pyrum.net/en/


Contact
IR.on AG 
Frederic Hilke 
Phone: +49 221 9140 970
E-mail: pyrum@ir-on.com  

Pyrum Innovations AG
Dieselstraße 8
66763 Dillingen / Saar	
E-mail: presse@pyrum.net